Real Estate Development Director

    Housing Connect
    Published
    March 19, 2021
    Location
    3595 S Main St, Salt Lake City

    Description

    At Housing Connect, we believe that a home is a space that offers safety and comfort. Our homes also ground us, remind us of our deepest values and hopes, and provide inspiration and motivation to succeed and strive to better our lives and those of our families.  

    Housing Connect is a leader in finding solutions to the affordable housing crisis affecting our communities. We are the connectors.  We’ve connected thousands of Utahns with what they need to find stable ground. And we’ve been recognized locally and nationally for our work.

    Housing Connect has developed or acquired over 1,500 units and has a robust real estate pipeline. Our goals are to continue to develop and preserve high-quality affordable housing.  Recent projects include:

    2020                The HUB of Opportunity, Millcreek, Utah                             

    157 unit LIHTC with 17 market units; five units for homeless and five units for developmentally disabled individuals.

    Co-owned and developed with the Columbus Foundation, Inc.

    2018                Bodhi Salt Lake, Salt Lake City, Utah                         

    80 unit LIHTC with 20 market units; five units for homeless and 9 units for individuals with mental illness.

    Co-owned and developed with the Vecino Group.  Utah Community Action is the service provider.

    Housing Connect is actively working on pipeline projects including new development, redevelopment of portfolio properties, and renovation projects.  These projects include:

    • New City Plaza, Salt Lake City, Utah
      Renovation – 299 units
    • Sunset Villas, Midvale, Utah
      Redevelopment – 75 units
    • Hunter Hollow, West Valley City, Utah
      Renovation – 24 units
    • 45th South Pipeline, Millcreek, Utah
      New Development

    Job Statement

    Under the direction of CEO, the Real Estate Development Director will manage the operations of the Real Estate Development Department and will supervise and oversee training of Real Estate Development Manager(s) and staff.  This position will also serve as senior staff and advisor providing coordination, budget planning, agency and community outreach and public relations for all real estate functions and, as needed, the agency.

    Responsibilities include overseeing the real estate pipeline throughout all stages of the development process, including acquisition, predevelopment, design, entitlements, financing/refinancing, disposition, construction and rehabilitation. The Director will assure new and renovated properties maintain high quality standards and operate effectively while meeting the community need for safe affordable housing; manage and review financial impact of development decisions; oversee and complete transition to property management and resident services teams; coordinate internal and external feedback informing program and resources for development projects; manage community processes including outreach and policy initiatives; and manage relations with lenders and investors to secure financing for Housing Connect’s projects.

    As of January, 2021 Housing Connect has developed over 1,500 units and is actively pursuing new projects to meet the growing needs of our community.

    Duties & Responsibilities

    • Identifies real estate opportunities for housing development that support agency goals and objectives. These goals include the potential partnerships with other non-profit agencies and for-profit groups for provision of additional affordable housing in targeted areas;
    • Identifies, analyzes, acquires and develops properties for preservation, rehabilitation and new construction. Oversees feasibility evaluation, due diligence, , design and entitlements, community outreach, financial structuring including preparation of development budgets and operating pro-formas, construction scope, budget and management, preparation of funding applications, and coordination of financing closings and reporting requirements;
    • Evaluates long-term plans for holding or disposing of property;
    • Develops and implements agency policies and guidelines and ensures compliance as related to Development;
    • Performs feasibility studies to determine fit with Housing Connect’s strategy and mission, including establishing and implementing site selection criteria, financial feasibility, and housing market analyses;
    • Develops budgets, analyzes financing structures, reviews legal documents, coordinates rehabilitation/construction processes, and monitors construction progress;
    • Oversees the preparation of RFQs, RFPs and appropriate procurement of consultant service related to housing development; and the management and administration of such consultant services;
    • Oversees and manages multiple housing projects in various phases of the development process. Coordinates with other Housing Connect team members, and also with attorneys, accountants and other outside consultants to review legal and accounting documents, and other specialized services (appraisals, surveys, architectural, engineering, and other development related documents);
    • Obtains project approvals and present project updates to the relevant Committee(s) of the Board of Directors;
    • Oversees the design, entitlement and permitting process;
    • Coordinates efforts to work with other housing and community development agencies, City, State, and local agencies, housing authorities and private sector developers on city, state, and federal housing and community development issues, policy formulation and other funding strategies;
    • Assists and oversees project manager(s) with the selection of and contracting with architects, consultants, contractors and other development team members;
    • Reviews and approves all related contracts and agreements, ensuring proper review by legal and risk management;
    • Participates on the business development committee to assist with the creation and development of the organization’s business development strategy;
    • Maintains and manages all lender and investor relationships;
    • Manages and secures all working capital for development pipeline;
    • Oversees and assists project managers with the negotiation with hard and soft lenders and equity partners on financing terms and conditions;
    • Ensures the department accomplishes its annual community development and housing production as well as portfolio recapitalization goals;
    • Performs other duties as may be required and appropriate to carry out the organization’s mission.

    Required Qualifications:

    • Bachelor’s degree in Planning, Public Administration, Economics, Finance or related field;
    • Seven years progressively responsible experience managing a program working with community development organizations in private and/or public sector housing development;
    • Demonstrated verbal and written communication skills;
    • Demonstrated negotiation skills;
    • Direct experience in housing and real estate finance and accounting and financing strategies, as related to housing construction programs;
    • Familiarity with multifamily residential design and construction methods;
    • Demonstrated experience managing and completing complicated multifamily construction projects;
    • Previous budgetary and supervisory experience;
    • Experience in supervision of professional staff; and
    • Experience in a team approach to development.

    Desired Qualifications:

    • Master’s degree in Business, Public Administration, Urban Planning, real estate or related graduate degree;
    • Real Estate License or Broker;
    • Familiarity with affordable housing financing and programs, including HUD programs and regulations;
    • Demonstrated experience with multifamily development, preferably including mixed use and/or mixed income development.

    To Apply

    To learn more and apply, click here